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Kazakhstan National fund resources reached $26 billion - Ministry of Finance

31.07.2008, 16:21 5955

Astana. July 31. Kazakhstan Today - The resources of the National fund of Kazakhstan made $26 billion. The press service of the Ministry of Finance of Kazakhstan informed today at the meeting of the department, the agency reports.

"As of January1, 2008, the National fund resources reached $22.7 billion and, as of the current date, they have made $26 billion. In 2008 the fund is expected to grow up to $31.6 billion," the press service of the Ministry of Finance informs.

As it was informed earlier, the National fund was created in 2000 by the decree of the President of the Republic of Kazakhstan, Nursultan Nazarbayev, on the example of Norwegian oil, copper Chilean, and the fund of Alaska. All excess in the budget from oil sector has been accumulated on special government's accounts. In Kazakhstan it is an account in foreign assets in the National Bank.

The national fund is divided into two parts: stabilization and saving. The current budget of Kazakhstan is financed due to non-oil income.

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